Market Movers: 10 things to know before you make your opening trade on Monday

Selling pressure from Foreign Institutional Investors (FIIs) pushed benchmark indices lower on Friday. The S&P BSE Sensex saw a cut of over 100 points while the Nifty50 closed below 18150-level.

In an otherwise negative market, Nifty Bank breached a new record high for the second straight session today to 40,550-level. The surge in the banking index was led by Kotak Bank and Axis Bank.  

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As many as 16 stocks advanced and 34 declined on the Nifty50 index at the market close today. Correcting for third day in a row, Hindalco declined most, falling by over 5 per cent, followed by Coal India, Tata Motors, ITC each down over 3 per cent. 

“Markets remained under pressure for yet another session and lost nearly half a percent. After the initial uptick, the selling pressure resumed as the day progressed which led the Nifty to end lower by 0.3 per cent at 18,117 levels,” Religare Broking Ltd VP - Research Ajit Mishra said.

“The broader markets also traded in sync with the benchmark and both mid cap and small cap ended lower by 1% each. A mixed trend was witnessed on the sectoral front wherein realty and banking ended marginally higher while healthcare, metal and IT settled in the red”, he added.

According to Mishra, “Markets will react to the Reliance and ICICI Bank results in early trade on Monday. Besides, global cues and movement in crude oil prices would be actively tracked. We expect Nifty to find support around 17,950 zone while 18,200-18,400 zone would act as a hurdle.” 

Stay tuned to Zeebiz.com to find out what could impact your trade today. We have collated a list of top 10 news points which could impact markets, companies, or economy:  

Global Markets

The Dow Jones Industrial Average and the S&P 500 touch record highs last week, though the Nasdaq fell on Friday after Snap and Intel Corp`s quarterly results disappointed.

Asian Markets

Asian shares started with a negative bias on Monday. Japan’s Nikkei 225 lost nearly 1% while Hong Kong’s Hang Seng Index lost 0.12% at around 7.30 am IST.

SGX Nifty

SGX Nifty gained 0.08% or nearly 15 points at around 7.30 am IST.

Govt may raise over Rs 10k cr via Bharat Bond ETF by Dec

The government is likely to launch the next tranche of the Bharat Bond ETF by December and expects to raise over Rs 10,000 crore to fund growth plans of central public sector enterprises, according to a senior finance ministry official.

The official added that the fund requirements of CPSEs are being worked out and the third tranche of the exchange-traded fund (ETF) will be launched by the end of the calendar year.

"We are finalising on the amount to be raised but it would be over Rs 10,000 crore," the official said. Bharat Bond ETF is an exchange-traded fund that invests in debt of public sector companies.

Oil hovers below recent highs; ends week up

Oil traded just below multi-year highs on Friday with bullish sentiment about low supplies tamped by concerns from world leaders that demand disruptions from the COVID-19 pandemic may not be over.

Brent crude futures rose 92 cents, or 1.1%, to settle at $85.53 a barrel. The benchmark, which touched a three-year high of $86.10 on Thursday, was up 1% in the week, its seventh weekly gain.

U.S. West Texas Intermediate (WTI) crude futures gained $1.26, or 1.5%, to settle at $83.76 a barrel, not far off a seven-year high hit this week. The contract gained 1.7% on the week and was up for a ninth straight week. 

Rupee ends flat at 74.87 vs US dollar

The rupee settled just 1 paisa higher at 74.87 against the US dollar on Thursday amid a bearish trend in domestic equities and a strong greenback overseas.

Forex traders said foreign fund outflows, strengthening of the dollar and firm crude prices in the international market restricted the appreciation bias in the local currency.

At the interbank forex market, the local unit opened at 74.86 against the greenback, and moved in a range of 74.69 to 74.89 during the session. It finally ended at 74.87, registering a rise of just 1 paisa over its previous close.

Govt initiates new rules to ensure sustainability of power sector

The Ministry of Power on Saturday announced new rules to sustain economic viability of the sector, ease financial stress of various stakeholders and ensure timely recovery of costs involved in electricity generation.

The ministry notified rules for the sustainability of the electricity sector and promotion of clean energy to meet the India's commitment towards climate change, a statement said.

Investors and other stakeholders in the power sector had been concerned about the timely recovery of the costs due to change in law, curtailment of renewable power and other related matters.

FPIs remain net sellers in Oct, pull out Rs 3,825 cr

Foreign portfolio investors (FPIs) have turned net sellers in Indian market by pulling out Rs 3,825 crore in October so far.In the past two months, huge buying was witnessed in the debt segment when FPIs had Rs 13,363 crore in September and Rs 14,376.2 crore in August.

However, in October, FPIs have pulled out Rs 1,494 crore, depositories' data showed. From equities, FPIs took out Rs 2,331 crore. The total net outflow stood at Rs 3,825 crore during October 1-22.

China’s Evergrande resumes work on over 10 projects

China Evergrande Group said on Sunday it had resumed work on more than 10 projects in six cities including Shenzhen - a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week.

Evergrande, deep in crisis with more than $300 billion in liabilities, has not disclosed how many of its 1,300 real estate projects across China it has had to halt work on.

The company said on Aug. 31 that some projects were suspended because of delays in payment to suppliers and contractors and it was negotiating to resume building.

FII & DII Data

Foreign portfolio investors (FPIs) remained net sellers for Rs 2697.7 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1029.97 crore, provisional data showed on the NSE.

Stocks under F&O ban on NSE  

Six stocks – Escorts, Indiabulls Housing Finance, Idea, IEX, PNB and SAIL - are under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

(With inputs from PTI, Reuters and other agencies)

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)